Happy March, traders!
Ben here.
Many people don’t have the time or expertise to make day trading their primary source of income.
I get it. It took me years of hard work to achieve financial freedom.
In other words, I was trading as a side hustle until I could make it my main gig.
If this sounds familiar, there’s nothing wrong with that. In fact, I now encourage part-time trading.
I’ll let you in on a little secret … you don’t have to devote your entire life to the market to potentially profit.
That doesn’t mean you don’t have to work hard, but you can accomplish a lot of other goals at the same time.
For example, I may not have a traditional day job anymore, but I do have another job that trumps trading every single time — my responsibilities as a father and husband.
Everyone’s schedule is different and we all trade differently. Multiple roads can lead to self-sufficient trading. You have to find yours.
So, if you’re struggling to find time to trade amid your work or life schedule, this one’s for you…
Don’t think you can’t crush the market without quitting your day job…
How Having a Day Job Can Help Your Trading
People ask me, “Should I quit my day job? Should I go into full-time trading?”
My answer’s usually “No.”
Most aspiring traders simply aren’t ready to have their entire financial security dependent on the market.
It’s always good to have a dependable day job if you can.
Having a reliable stream of income (that’s unrelated to your trading performance) can actually help you be a better trader.
If trading is your only source of income, that puts a lot of pressure on your decision-making.
Unless you’ve got ample money saved, you’ll have to win constantly in the market to put food on the table.
Spoiler Alert: Constant success in the markets is impossible and unrealistic.
There’s too much pressure and stress if you need that money to live. That’s not a winning recipe.
But if you know you’ve got money coming in from another job, you shouldn’t have to worry about losing your shirt in the stock market.
Even if you have a losing month in the market, you have other income to supplement your losses.
This takes the pressure off of your trading performance, allowing you to focus on long-term success as opposed to near-term profits.
3 Important Tips for Trading as a Parent
I’m technically a full-time trader. But as a father and husband, everything comes second to my family.
That said, when the market’s hot, it’s my job to trade.
Here are three simple ways that trader-parents can strike a harmonious balance between work and family life:
- Block your time efficiently. When I’m trading, I zero in on the markets. I coordinate with my wife to make sure she can watch the kids. But when I’m with my kids, I turn off all notifications and give them my entire focus.
- Study while the kids are busy. My three sons running around the house can make it difficult to find quiet time to study charts and do research. Luckily, they’re at school most of the day and they go to bed much earlier than I do. I try to allocate my trading and study time when my boys are going to be at school or in bed.
- Take advantage of the freedom that trading provides. Most jobs require you to be in one place, focused on one task, for the majority of your day. But when you’re trading, you can make your own schedule. This is priceless for trader-parents. When you’re at your day job, there’s not much you can do to free up your time. But when you’re trading, you can choose exactly how you want to spend it.
This is why I think trading is an amazing job — or side hustle — for parents.
It comes with a lot of built-in freedoms that allow you to spend ample time with your family.
But whether you have children or not, there’s no shame in having a day job while you’re learning to trade.
Trading on the side is a great way to get an introduction to the market without the pressure of stocks being your only source of income.
If you’re starting to trade on the side, god speed. But make sure you’re approaching it the right way, considering the tips I’ve laid out today.
Now, before we go, let’s get to…
💰The Biggest Smart-Money Bets of the Day💰
- $3.76 million bearish bet on XBI 06/21/2024 $95 puts @ $4.25 (seen on 2/29)
- $2.81 million bullish bet on TLT 05/17/2024 $98 calls @ $1.13 avg (seen on 2/29)
- $1.28 million bullish bet on IREN 08/16/2024 $7.50 calls @ $1.70 (seen on 2/29)
Happy trading,
Ben Sturgill
P.S. If you want access to more ‘smart money’ sweeps like these…
This SUNDAY, March 3 at 3 p.m. EST — my colleague Danny Phee is hosting an urgent LIVE WEBINAR where he’ll reveal the most promising ‘smart money’ trades we’re seeing this week.
Don’t miss out — CLICK HERE NOW TO RESERVE YOUR SEAT.
